Times of India: July, 2016
Chennai: Mitsubishi Elevator India, a unit of Mitsubishi Electric, Japan on Tuesday announced the launch of their new plant in Vemgal, near Bengaluru, - its first in India. With an investment of 183 crore, the plant would manufacture pieces for the Nexiez Lite model of elevators.
Spread over 22 acres the plant has a capacity of manufacturing 5,000 units annually. The manufacturing would start in September and the elevators would be rolled out starting December.
"We aim to strengthen our product competitiveness in terms of price and cut down on delivery time from over 6 months to 90 days, by focusing on Nexiez Lite for mid and low-rise buildings. We also plan to offer more local products that fulfil local needs," said Iwao Oda, MD, Mitsubishi Elevator India. Customers would be able to save on the dollar fluctuation costs as well, he added.
Mitsubishi sells close to 1,000 elevators annually and hopes to increase its sales by 50% with the increase in production from the new plant.